Monetize your teaching skills in the digital world.
A new era of remote learning began with the introduction of radio and television in the middle of the 20th century. Broadcasts that bypassed the limitations of traditional classrooms, such as the BBC's "Schoolhouse on the Air" and the televised "Sunrise Semester," imparted knowledge to a larger audience.
The delivery of dynamic and captivating courses was made easier by the development of e-learning platforms and virtual learning environments (VLEs), which turned online education into a powerful learning environment.
With the continuous evolution of technology and the arrival of live streaming, online education resulted in a significant transformation in the teaching profession by offering teachers a multitude of options to improve their abilities, broaden their knowledge, and progress in their careers.
In addition to enabling real-time communication, live streaming has given teachers financial benefits by opening several avenues of revenue generation. Teachers from different corners of the world are now monetizing their skills to earn extra money - other than their salaried jobs - while imparting knowledge to an ever-expanding student base.
The creative phenomenon of live streaming classrooms crosses geographical barriers and changes the nature of learning by utilizing real-time technology to bring teachers and students together virtually.
In a live streaming classroom, students can participate, engage, and learn from the comfort of their own homes as teachers deliver lectures, courses, and interactive sessions via live video broadcasts.
With the widespread availability of high internet connections and the simplicity of live streaming software, teachers can create interactive online classrooms easily and live stream to students without facing technical challenges.
Teachers can assess student responses through this synchronous communication, provide prompt answers to queries, and modify their lesson plans in response to real-time feedback.
The transformative medium of live streaming has unprecedented opportunities for teachers to diversify their income streams while engaging with students in real-time. Let’s explore some of the popular tips that are helpful for teachers to earn money as they go beyond traditional classrooms:
Imagine you’re an expert in Geography and you’ve a strong command over the graduation-level course material. You can approach students who are interested in grasping the core principles of the subject in an easy-to-understand language. You can start by offering free trial classes of the curriculum, and once with your expertise you’re successful in creating the magic, you can charge a fee to access the remaining lessons. Impressed with your teaching skills, students can pay whatever you demand for future live streaming classes.
Teachers can work with EdTech companies for curriculum development, educational consulting, and other roles. However, a seasoned teacher can grab the role of conducting live classes for students supplementing their income. It is also beneficial for teachers for professional growth as they gain valuable experiences while using teaching tools along with building up a network with professionals. As of February 2023, the average base salary for curriculum specialists, e-learning developers, and educational consultants was estimated to be USD 63,000, USD 59,000, and USD 62,600 respectively.
By taking on more teaching hours, hour-based teachers have the chance to enhance their revenue. They have the autonomy to determine their hourly rates, and they can easily increase their total income by drawing in more students or teaching more classes. It also contributes to a better work-life balance as teachers have flexible schedules of teaching and they can attend to other responsibilities without any pressure. This form of live streaming teaching also saves a smart amount which is often required for commuting.
By leveraging the interactive tools of Yostream, teachers can conduct live educational workshops directly from their browsers. They can set a fixed amount for students to attend the workshops that cover in-demand topics or subject materials. In order to further diversify their sources of income, teachers can also use workshops to market and sell their curriculum guides, lesson plans, and related educational packs. Additionally, workshops give teachers a chance to network with EdTech companies, other educators, and school administrators. This could result in collaborations, employment offers, or consulting opportunities.
In case you’ve just started teaching using live streaming, things won’t be much easier to monetize almost instantly. Here, you can encourage students to give donations and tips for all the tremendous efforts you’ve used in building the course material. You can create a positive atmosphere in your live classes by informing students how the fund is used to enhance the quality of topics being taught. With this transparency, you can build trust and help students understand the purpose behind your teaching endeavor.
You can organize special live streaming events covering specific topics, providing supplementary materials, or giving in-depth insights on exam preparation. You can monetize such events while conducting live Q&A sessions where the doubts of students can be cleared in real-time. Another great component of live stream events is to invite subject experts on your channel who can give students different perspectives and ideas on a particular topic. Many students can show interest in paying for exclusive insights that add real value to their knowledge base.
Beyond traditional methods of teaching, merchandise sales give teachers another avenue for making money. T-shirts, mugs, stickers, or educational materials can be sold to a large number of students interested in supporting and connecting with their favorite teachers. Apart from revenue generation, this method helps you promote your identity as an online teacher, increases your visibility, and creates a sense of community among loyal students. When students use your items, it automatically becomes a walking advertisement which can help attract more students to your live streaming classes.
The revenue generated by online teachers depends on a multitude of factors such as their educational qualifications, level of experience, expertise in the subject, or whether they’re employed by any company or work as a freelancer.
The income can vary from a few hundred bucks to multiple thousands of dollars per month considering the unpredictable nature of the market. Marketing efforts, demand, and the ability to connect with students are some important variables that play a key role in deciding a smart income.
However, in the online teaching career, it is estimated that the average hourly rate for an online class is around USD 18.30 with a fluctuation between USD 10 and USD 38.90. It is important to note that an experienced teacher with an impressive track record can earn much more than these figures.